Opening Bell - Sensex opens at all time high, Nifty crosses 9300 mark
Nifty finds support @ 9274 the previous top while 9350 will act as resistance. Bank Nifty took out 22000 and is now in blue sky territory with 22250 being the first resistance, while 21750 will now act as support.
Asian stock markets extend gains following the rise in US indexes on the back of strong earnings announcements and on expectations for US President Donald Trump's impending tax reforms. SGX Nifty up by 16 points to 9,312 level. The Japan’s Nikkei 225 has risen 133 points. Hong Kong’s Hang Seng has advanced 107 points. China’s Shanghai Composite is trading with gains of 4 points.
Nifty50 closed above 9,300 for the first time ever on Tuesday. The momentum is likely to continue for the index and Nifty50 index may face resistance in the zone of 9,340-9,365. On the downside, immediate support is seen at the level of 9,270 and the next support at the level of 9,200.
The global crude oil prices, after a slight rise on Tuesday slipped down in Wednesday’s trade. The US crude data shows further rise in the inventories and oil supply to rest of the world.